[2] He is currently a distinguished visiting fellow at the Hoover Institution, focusing on research, writing, and activities related to global economic integration, including the legal and political environments of trade agreements and their management.

From 1974 to 1984 Mulford was senior investment advisor to the Saudi Arabian Monetary Agency while remaining a Managing Director and head of International Finance at White, Weld.

In those roles, he served as the senior international economic policy official at the Treasury under Secretaries Donald Regan, James Baker, and Nicholas Brady.

Critics of the mega-swap note that the deal failed to alleviate Argentina's insolvency and may have exacerbated the situation by adding to debt in the long term.

[6] More favorable analysis suggests that Argentina's gains in liquidity made up for the long-term increase in debt that would have to be paid out to investors.